The funds ($30,000) to construct the library were donated by Miss Grace Floyd in memory of her father, David Gelston Floyd, a whaler, banker and grandson of General William Floyd signer of the Declaration of Independence. The library was designed to resemble the Floyd homestead, Brecknock Hall on Sound Avenue, and the stones came from the estate's quarry. D. Stanley Corwin completed the construction in 13 months. In 1998, the 3-story west wing more than doubled the size of the library.